(December 30th, 2022) Read the full article from the San Francisco Business Times.
An interview with September Hargrove, Northern California Director for Community and Business Development at JPMorgan Chase, discusses how large corporations can do their part to support diverse-owned businesses and racial equity in the entrepreneurship space.
"Over the last few years, we have continued to see a rise in the increase of entrepreneurs of color. In fact, 2021 saw the highest number of Black businesses created in more than 20 years...This year, JPMorgan Chase launched the Diverse Supplier Grant Initiative, which provides affordable growth capital to support diverse owned businesses that need to meet the costs associated with capturing contracts with large corporations. The firm has issued a $5 million grant to Local Initiatives Support Corporation, a community development financial institution working directly with prospective recipients, and administers the program."
-September Hargrove, JPMC Northern California Director for Community and Business Development
JPMorgan has partnered with LISC Strategic Investment's Capital Innovation Lab to create the Diverse Suppliers Grant Initiative financing program that supports diverse-owned and operated small businesses cover the costs needed to secure business with large corporations.
Learn more about LISC's Capital Innovation Lab and their different programs supporting small businesses and diverse entrepreneurs.